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Billion-dollar database software startup MongoDB files for IPO
MongoDB Inc. , a subscription-based database software startup valued at more than $1 billion, filed for its initial public offering, according to the Securities and Exchange Commission late Thursday. Morgan Stanley, Goldman Sachs and Barclays are listed among the underwriters. MongoDB said it seeks up to $100 million in the IPO, but that figure is generally used as a placeholder in initial filings. The New York City-based company was last valued at $1.6 billion by venture capitalists with more than $300 million in total VC funding, according to The Wall Street Journal. For the fiscal year ended Jan. 31, 2017, MongoDB reported revenue of $101.4 million, a 55% rise from the previous year, for a net loss of $86.7 million, or $3.55 a share. The company plans to list under the ticker symbol "MDB" on the Nasdaq.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Walgreens is taking over 1,900 Rite Aids
Walgreens Boots Alliance agreed to buy about 250 fewer stores from Rite Aid than it had previously planned.
Juno Therapeutics to launch $225 million follow-on offering
Shares of Juno Therapeutics Inc. fell more than 1% late Wednesday after the biopharmaceutical company announced the launch of a proposed follow-on public offering worth $225 million. Juno said it expects to grant the underwriters an option to purchase up to an additional $33.75 million of shares. The company plans on using the proceeds for general corporate purposes and working capital, Juno said in a statement. Morgan Stanley and J.P. Morgan are joint bookrunners. The stock ended the regular trading session up 3.2%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
UPDATE: Alnylam shares jump 24% on positive results from late-stage trial of hATTR amyloidosis treatment
Sanofi and Alnylam Pharmaceuticals Inc. on Wednesday reported positive results in a late-stage trial of a treatment for Hereditary ATTR (hATTR) Amyliodosis patients with polyneuropathy. Alnylam shares jumped 24% after resuming trading following a halt. In a joint statement, the companies said an investigational RNAi therapeutic met its primary and secondary endpoints. The disease is an inherited one that is progressively debilitating and often fatal and is caused by mutations in the TTR gene. TTR protein is produced in the liver and usually acts as a carrier for vitamin A. Mutations can cause proteins to accumulate and damage organs and tissue, including the heart. About 50,000 people worldwide suffer from the disease, which currently has no approved treatment apart from liver transplant. Patients typically have a life expectancy of 2.5 to 15 years after the first symptoms appear. "This is a significant milestone that supports our belief that RNAi therapeutics have the potential to become an innovative new class of medicines for patients with rare genetic diseases," said Elias Zerhouni, M.D., president, global R&D at Sanofi in a statement. Alnylam shares had gained 100.4% in 2017 through Tuesday, while the S&P 500 has gained 12%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Walgreens is taking over some of your Rite Aid locations
Walgreens Boots Alliance agreed to buy about 250 fewer stores from Rite Aid than it had previously planned.
Walgreens to revise rite aid deal
Walgreens Boots Alliance is set to revise its agreement to buy some Rite Aid stores to resolve outstanding antitrust concerns, according to Bloomberg. Roselle Chen reports.
Video provided by Reuters
Walgreens gets regulatory nod for slimmed-down Rite Aid deal
(Reuters) - U.S. antitrust regulators have allowed a slimmed-down deal for drugstore chain Walgreens Boots Alliance Inc to buy about 42 percent of Rite Aid Corp's U.S. stores for $4.38 billion, Walgreens said on Tuesday.
Walgreens cleared to purchase 1,900-plus Rite Aid stores and more for $4.4 billion
Walgreens Boots Alliance Inc. said Tuesday that it has gotten regulatory approval to purchase Rite Aid Corp. assets including 1,932 stores, three distribution centers and related inventory for $4.375 billion in cash. This deal updates the terms of the June 2017 agreement, which was a $5.175 billion deal for 2,186 stores. Store purchases are expected to start in October and complete in spring 2018, and will focus primarily on the northeast and southern U.S. The three distribution centers, which won't begin their transition for at least a year, are in Dayville, Conn., Philadelphia, and Spartanburg, S.C. Walgreens will assume certain limited-store liabilities in the transaction, the related leases and give Rite Aid the option to become a member of the Walgreens Boots Alliance's group purchasing organization, which Rite Aid can exercise through May 2019. After the stores are acquired, they are expected to be converted to the Walgreens brand. The deal is not expected to impact adjusted earnings per share in the fiscal year ending August 2018. The company expects synergies of more than $300 million, fully realized within four years of the initial closing. Walgreens shares are unchanged in premarket trading and up 2.2% for the past year. Rite Aid shares are up 2.2% in premarket trading, but down 66% for the last year. And the S&P 500 index is up 17.1% for the past 12 months. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
J.J. Abrams to write and direct 2019's 'Star Wars: Episode IX'
LOS ANGELES, Sept 12 (Reuters) - Filmmaker J.J. Abrams will
write and direct the ninth installment of the ongoing "Star
Wars" saga, Walt Disney Co said Tuesday, a week after
the film lost its writer-director due to creative differences
with the studio.
Exclusive: Citigroup tops eight-bank group for Petrobras unit IPO - source
SAO PAULO (Reuters) - Citigroup Inc and seven other banks will underwrite the initial public offering of Petróleo Brasileiro SA's fuel distribution unit, which will likely occur in November, a person with direct knowledge of the plan said on Thursday.
ABC signs former 'Lost' showrunner Carlton Cuse to multi-year deal to create new shows
Walt Disney Co. TV network ABC said on Wednesday it's signed a multi-year deal with former "Lost" co-showrunner Carlton Cuse to create and produce new shows across all network, cable and streaming platforms. The news comes days after "Grey's Anatomy" and "Scandal" creator Shonda Rhimes was poached by Netflix Inc. from ABC, which was expected to be a blow to the network. "Forming a partnership with a writer/producer/director as talented and prolific as Carlton Cuse is a major victory for ABC Studios," president of ABC Studios Patrick Moran said in a statement. The Hollywood Reported wrote that the deal is said to be a worth more than $20 million, plus a percentage of the back-end on programming created under the partnership. Cuse spent six years at ABC with "Lost" and has since created shows such as "Bates Motel" and "The Strain." His current show "The Colony" was recently renewed for a second season on USA, and he also wrote the screenplay for "San Andreas," starring Dwayne Johnson. This new partnership comes as Disney gears up to launch its own stand alone streaming service to house its content by 2019. "I am very excited to be working alongside wonderful and iconic Disney brands like Marvel, Pixar and Lucasfilm to create and bring entertaining and compelling stories to the screen." Cuse said in a statement. "The very best part of my job is working with other writers to come up with cool ideas, solve story problems and get stories made." Shares of Disney are down 2% in the year to date, while the S&P 500 index is up more than 10%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
CAG raps govt-owned banks for understating non-performing assets
The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for over-stating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17. Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the divergence did not fall within the criteria fixed by the latter, it had not been disclosed by these lenders, the audit watchdog said in its report, presented to Parliament on Friday.The 12 PSBs are Allahabad Bank, Bank of Maharashtra, Central Bank of India, Corporation Bank, Dena Bank, Syndicate Bank, Vijaya Bank, Punjab National Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, and United Bank of India. The highest underestimation was made by Bank of Maharashtra, by Rs 3,034 crore, followed by Central Bank of India (Rs 2,097 crore), Corporation .
U.S. Bank’s Lease Portfolio Jolts Up 35% in 2Q
U.S. Bank saw its auto lease outstandings grow by 34.8% in the second quarter compared to the same time a year prior, and has done so without expanding credit criteria, Terry Dolan, vice chairman and chief financial officer for the bank, said during its Wednesday earnings call. “In the autoRead More
Dick's Sporting Goods launching price match program, closing Chelsea Collective stores
Dick's Sporting Goods Inc. confirmed Tuesday that it is launching a price match program. According to the company's website, to qualify for the "price match guarantee" the item must be the same brand, model and color; the product must be immediately available at a retailer like Macy's Inc. , Amazon.com Inc. , Wal-Mart Stores Inc. or Kohl's Corp. ; and it must meet certain other criteria for eligibility. For example, markdown items aren't included. Dick's also announced that it will be closing its Chelsea Collective stores on August 6. Chelsea Collective was a fitness boutique for women that focused on apparel, shoes and accessories. There were just two stores open for two years. "We opened Chelsea Collective stores as a lab to more thoroughly understand the women's specialty athletic business. As the leases at both locations are expiring soon, we have concluded the very successful experiment," Dick's said in a statement. Dick's shares closed Tuesday down 2.5%, and are down 30.3% for the year so far. The S&P 500 index is up nearly 10% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Abercrombie & Fitch, Rite Aid Walk into Wednesday’s 52-Week Low Club
General Electric, Rite Aid Slip into Thursday’s 52-Week Low Club
Endo will remove opioid from market, following FDA request
Endo International PLC said on Thursday that it will voluntarily remove the opioid pain medication Opana ER from the market, in response to a Food and Drug Administration request last month. Endo expects an about $20 million pre-tax impairment charge in the second quarter "to write-off the remaining net book value of its Opana ER intangible asset." Opana ER sales amounted to about $160 million last year and nearly $36 million in the first quarter, the company said. Endo also said that it continues to believe in the drug's safety and efficacy when used as intended. Opana ER was reformulated in 2012 to prevent abuse through snorting or injecting. However, the drug was being abused after reformulation via injection, the FDA said in June. Public health consequences of that abuse included a serious outbreak of HIV and Hepatitis C and cases of a harmful blood disorder, the FDA said then. Endo shares declined 2.2% in afternoon trade, compared with a 0.5% decline in the S&P 500 . Shares have declined 1.2% over the last three months, compared with a 2.7% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Exclusive: Dropbox seeks to hire IPO underwriters - sources
(Reuters) - Data-sharing business Dropbox Inc is seeking to hire underwriters for an initial public offering that could come later this year, which would make it the biggest U.S. technology company to go public since Snap Inc , people familiar with the matter said on Friday.
Walgreens abandons Rite Aid bid, will instead buy nearly half of stores
Walgreens abandoned plans to acquire Rite Aid after regulators scrutinized the deal and will instead buy nearly half of the drugstore chain's stores.
Walgreens scraps Rite Aid merger, will instead buy half its stores
(Reuters) - Drugstore chain Walgreens Boots Alliance Inc scrapped its deal to buy Rite Aid Corp after failing to win antitrust approval, but said it would instead buy nearly half of the smaller rival's U.S. stores for $5.18 billion.
Walgreens Boots Alliance scraps plans to buy Rite Aid
Walgreens Boots Alliance says it will buy more than 2,000 Rite Aid stores instead.
Walgreens ends its attempt to buy Rite Aid
Walgreens ends pursuit of Rite Aid buyout, strikes new deal to buy stores and inventory
Fred's stock plunges after deal to buy some Rite Aid stores was terminated
Shares of Fred's Inc. plunged 27% in premarket trade Thursday, after the agreement to buy 865 Rite Aid Corp. was terminated. The agreement was originally announced on Dec. 20, 2016. The termination comes after Rite Aid agreed to sell 2,186 stores to Walgreens Boots Alliance Inc. , which also terminates the companies' merger agreement. Fred's said it will receive a $25 million termination fee. "This is a disappointing outcome; however, the termination of the transaction has no impact on the Company's transformation strategy or our ability to execute," said Chief Executive Michael Bloom. The pharmacy and general merchandise chain's stock selloff puts it on track to open at the lowest level seen since Nov. 16, 2016. The stock had tumbled 34% year to date through Wednesday, while the S&P 500 had gained 9.0%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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